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Fair Lending CRA-NC supports efforts to increase sustainable homeownership. The American Dream is realized through home ownership. In recent years, more Americans have been able to buy homes than ever before. Yet we now see that this achievement came at some cost. In recent years, the rise of subprime mortgage lending has altered historically accepted notions surrounding underwriting. The prevalence of stated income, interest only, adjustable rate, and other hybrid mortgage products have challenged affordability and occasioned a rise in foreclosures. Research CRA-NC examined foreclosures in Durham County, North Carolina. Read a copy of "Empty Houses, Broken Dreams." This report was submitted to the North Carolina General Assembly's Select Committee on Rising Home Foreclosures. "Paying More for the American Dream" analyzes racial inequality in loan pricing in six American metro areas. CRA-NC reported on inequalities in loan pricing in the Triangle in 2005. A collaboration with seven advocacy groups across the country documented the impact of bankrupt lenders in Low and Moderate Income Census Tracts in seven metro areas. |
Community Reinvestment Association of North Carolina | | Post Office Box 1929 | | Durham, NC 27701 | | (919) 667-1557 tel | | (919) 667-1558 fax Home | | Faq | | Glossary of Terms | | Disclaimer/Linking Policy | | Site Map | | EMAIL Webmaster |
Community Reinvestment Association of North Carolina |
…promoting and protecting community wealth |
Local Analyses CRA-NC can provide you with an analysis of fair lending in your region. This report, commissioned for mayors in Durham and Wake Counties, North Carolina, demonstrated that these communities have some of the greatest discrepancies in the frequency of high cost loans among white and black borrowers in the United States. Information for Borrowers Do you want to buy a home? Do you want to refinance into a better mortgage? Are you worried about losing your home? Please consider contacting a North Carolina Housing Counselor. First time buyers and some others can get special rates at the North Carolina Housing Finance Agency |
